Nigeria chart of accounts template
Downloadable SME chart as CSV or spreadsheet. Edit codes before you import.
Download CSV or spreadsheet and map to your software. Codes are a practical SME layout, not an NRS-mandated chart.
As of 1 Jan 2026
Nigeria does not ship a single statutory SME chart that every package must use. This template is a starting file with VAT-relevant flags for 7.5% supplies.
| Code | Account name | Type | VAT relevant |
|---|---|---|---|
| 1000 | Cash on hand | asset | false |
| 1010 | Bank — Naira current | asset | false |
| 1020 | Bank — Naira savings | asset | false |
| 1030 | Bank — foreign currency | asset | false |
| 1100 | Accounts receivable | asset | false |
| 1110 | Allowance for doubtful accounts | asset | false |
| 1200 | Inventory | asset | false |
| 1300 | Prepayments | asset | false |
| 1400 | VAT input (recoverable) | asset | true |
| 1500 | Withholding tax receivable | asset | false |
| 1600 | Property, plant and equipment | asset | false |
| 1610 | Accumulated depreciation | asset | false |
| 2000 | Accounts payable | liability | false |
| 2100 | VAT output (payable) | liability | true |
| 2110 | PAYE payable | liability | false |
| 2120 | Pension payable | liability | false |
| 2130 | NHF payable | liability | false |
| 2140 | WHT payable | liability | false |
| 2200 | CIT payable | liability | false |
| 2300 | Accruals | liability | false |
| 2400 | Short-term borrowings | liability | false |
| 3000 | Share capital | equity | false |
| 3100 | Retained earnings | equity | false |
| 4000 | Sales — taxable | income | true |
| 4010 | Sales — zero-rated | income | true |
| 4020 | Sales — exempt | income | false |
| 4100 | Other income | income | false |
| 5000 | Cost of sales | expense | false |
| 5100 | Salaries and wages | expense | false |
| 5110 | Employer pension | expense | false |
| 5200 | Rent | expense | true |
| 5300 | Utilities | expense | true |
| 5400 | Professional fees | expense | true |
| 5500 | Bank charges | expense | false |
| 5600 | Depreciation | expense | false |
| 5700 | Other operating expenses | expense | true |
- Nigeria Tax Act 2025, Fourth Schedule (section 58) — individuals’ income tax rates 2026-09-02
- Nigeria Tax Act 2025, section 30 — ascertainment of chargeable income; eligible deductions including rent relief 2026-09-02
- Nigeria Tax Act 2025, section 31 — deductions must be claimed in writing 2026-09-02
- Pension Reform Act 2014 — employee contribution of 8% of pensionable emoluments 2026-09-02
- Nigeria Tax Act 2025, section 147 — VAT charged at 7.5% 2026-09-02
- Nigeria Tax Act 2025, section 152 — VAT invoice contents 2026-09-02
- Nigeria Tax Administration Act 2025, section 22 — small-business VAT filing relief (₦100m turnover test as published) 2026-09-02
- Nigeria Tax Act 2025, section 56 — small company at 0%; any other company at 30% 2026-09-02
- Nigeria Tax Act 2025, section 59 — development levy of 4% other than small companies and non-resident companies 2026-09-02
- Nigeria Tax Act 2025, interpretation — printed “small company” definition (₦100m turnover / ₦250m assets) 2026-09-02
- KPMG, Updates to the Nigeria Tax Act (July 2025) — records a change of the small-company turnover test from ₦100m to ₦50m 2026-09-02
- Nigeria Tax Act 2025 — withholding tax framework consolidated from CITA/PITA (rates themselves were not rewritten as a new schedule in the printed Act’s Fourth Schedule) 2026-09-02
- Published NTA 2025 practitioner summaries of WHT rates and the resident small-company monthly-threshold / TIN exemption 2026-09-02
Sources
- Nigeria Tax Act 2025 2 Sept 2026
Read the guide
- Chart of accounts guide
How to adapt the template before you import.